Aircraft Actuator Market To Reach USD 29.8 Billion By 2027 | CAGR 8.5% - Forencis Research

Aircraft Actuator Market Size, Share, Trends, Growth, Analysis, Research

Global Aircraft Actuator Market: Key Highlights

  • According to the new market research report “Aircraft Actuator Market by System (Mechanical, Electric, Pneumatic, Hydraulic, Others) by Type (Linear, Rotary) by Application (Fight Control System, Power Distribution System, Land and Breaking Systems, Fuel Management System, Engine Control System, Vibration Control System, Others), by End User (Commercial Aircrafts, Military Aircrafts), by Region (North America, Asia-Pacific, Europe, Middle East, and Africa, South America) – Global Forecast (2019 to 2027)”, the global aircraft actuator market is estimated to reach USD 29.8 Billion by 2027 at a CAGR of 8.5% during forecast period 2020-2027.
  • The increase in the global population and rapid technological developments are expected to increase the market during the forecast period
  • The actuator is one of the key components of the aircraft system which is responsible for the moving and control mechanism of aircraft

Global Aircraft Actuator Market: Key Market Dynamics

  • An increase in the manufacturing of commercial and military aircraft and the growing adoption of 3D printing technology are expected to fuel the growth of the market during the upcoming years
  • However, changing consumer buying behavior and rapid technological changes are expected to restrain the market during the forecast period
  • Increasing the adoption of unmanned aerial systems will become an opportunity for the aircraft actuator market

Global Aircraft Actuator Market: Regional Overview

  • Asia-Pacific

Asia-Pacific region is expected to grow at a higher rate during the forecast period due to the growing demand for commercial and military aircrafts. As per Boeing, the Asia-Pacific region will account one-third of global demand and will need 17000 new commercial aircraft by 2039. China, India, and Japan will have expected to grow at a higher rate in the Asia-Pacific region due to technological advancement, increasing population, and increasing domestic air traffic.

  • North America

North America is expected to dominate the aircraft actuator market during the forecast period due to the increase in adoption of safety standardization policies for North American airlines. The US is expected to dominate the aircraft actuator market during the upcoming years due to increasing investment in redesigning the wide-body aircrafts. In September 2019, Boeing announced that it will gradually increase the manufacturing rate by late 2020. With this, the actuator market will be increased in North America during the upcoming years. 

Global Aircraft Actuator Market: Key Players Overview

  • Honeywell International Inc.:

Honeywell International, Inc. offers industry-specific solutions to automotive products and services to the aerospace industry. The company operates through four business segments namely home and building technologies, aerospace, safety, and productivity solutions. The Aerospace segment provides integrated avionics, aircraft engines, and related products and services for aircraft manufacturers. The company provides various flight control actuation, missile actuation, marine actuation, and engine control actuation systems for controlling motion activities. In August 2018, Honeywell International Inc. is entered into a partnership with Lockheed Martin to provide a control actuation system to Increase Rocket Accuracy.

  • Moog Inc.:

Moog Inc. engages in the provision of advanced motion control products for industrial, aerospace & defense, and medical application. Motion control products include all forms of actuation technology, control electronics, and system software. The company provides various types of actuators for flight control actuation, engine control actuation, active vibration control, and utility actuation. In November 2019, Moog Inc. Partnered with Lockheed Martin to provide a primary flight control system and wing fold actuation system on the F-35 fighter.

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Rep Id : AnD 057

Published : 2020-01-29